Category: News

Smyril Line Named
Company of the Year 2026

We are proud to share that Smyril Line has been named Company of the Year 2026 at Industry Day, the annual business event organised by the House of Industry, held at the Nordic House in Tórshavn on Friday, 18 September.

In recent years, Smyril Line has undergone significant development in both its freight and tourism operations. The company has expanded its hotel operations, refurbished Norröna and opened several new restaurants. Smyril Line has also expanded its fleet and is now preparing to welcome two new cargo vessels. At the same time, Smyril Line’s freight operations have grown across the Faroe Islands, Iceland, Denmark and the Netherlands. 

“Being named Company of the Year 2026 is a great honour. I would like to thank all our employees, both at sea and ashore, for their professionalism, dedication and hard work. Together, we will continue to develop our tourism and transport services across the North Atlantic,” says Jens Meinhard Rasmussen, CEO of Smyril Line. 

Norröna reduces direct CO₂ emissions by up to 26 tonnes per week through shore power in Iceland

Last Thursday, Norröna connected to shore power in Seyðisfjörður for the first time.

The shore power project has been carried out in cooperation with the Municipality of Múlaþing, which has been responsible for the work on shore. The Faroese company ETV has designed and installed the shore power solution on board Norröna.

Both Eyðun Hansen, Managing Director of ETV, and Heðin Mortensen, Chief Engineer on board Norröna, were in Seyðisfjörður when the system was put into operation, and both are very pleased with the result.

Shore power makes it possible for Norröna to switch off its auxiliary engines while berthed in port. Due to the vessel’s long port stay in Seyðisfjörður, this is estimated to save 7-8 tonnes of fuel per week. This corresponds to a reduction in CO₂ emissions of approximately 22-26 tonnes per week.

At the same time, air and noise pollution are significantly reduced, as engine noise, vibrations and certain emissions are eliminated when the auxiliary engines are switched off. This provides better conditions both on board and for people living and working near the port.

“The project demonstrates what can be achieved when authorities, ports, shipping companies and suppliers work together on practical solutions. At Smyril Line, we are very grateful for the excellent cooperation with the Municipality of Múlaþing and ETV,” says Jens Meinhard Rasmussen, CEO of Smyril Line.

Shore power is part of Smyril Line’s efforts to reduce the environmental impact of its operations and to develop sustainable maritime transport in the North Atlantic.

New Ro-Ro vessel Skipanes
delivered to Smyril Line

Smyril Line has today taken delivery of its new Ro-Ro freight vessel Skipanes from the CIMC Raffles shipyard in Yantai, China.

Skipanes is the first of two new Ro-Ro freight vessels ordered by Smyril Line as part of a major investment in the company’s fleet and future freight services.

“We are very pleased to have taken delivery of SKIPANES, which will strengthen our freight services in the North Atlantic. This marks a milestone in the company’s history and an important step in the development of our fleet” says Jens Meinhard Rasmussen, CEO of Smyril Line.

Skipanes will now begin its voyage from China to Europe.

Smyril Line’s 2024 Results

2024 has been a landmark year for Smyril Line, characterised by significant investments and strategic decisions aimed at securing the company’s future growth. Through targeted investments and operational improvements, we have strengthened our position in maritime transport and successfully adapted to evolving market conditions. Both our passenger and freight divisions have delivered strong performances throughout the year.

Investing in Fleet and New Headquarters

As part of our long-term growth strategy, Smyril Line signed a contract with CIMC Raffles shipyard in China in early 2024 to build two new freight vessels. These vessels, designed with sustainability and efficiency in mind, are scheduled to enter service in mid-2026. This investment reflects our commitment to enhancing service levels while advancing greener energy solutions within the maritime industry.

In May 2024, we commissioned Articon to construct our new headquarters, terminal, and storage facility in Tórshavn. This modern facility, set for completion in 2026, will optimise operations and improve service for both our freight and passenger customers.

Financial Performance and Outlook

Despite high inflation, labour strikes, and the introduction of new industry levies, Smyril Line delivered record-breaking financial results in 2024. Smyril Line achieved a net profit of DKK 127 million and an operating profit of DKK 286 million, surpassing 2023 earnings by DKK 5 million.

Based on current developments and outlook, Smyril Line expects continued growth in both passenger and freight transport in 2025. However, our financial outlook remains subject to external factors, including fuel prices, inflation, interest rates, and geopolitical developments. We will continue to focus on operational efficiency, sustainable investments, and customer service excellence to navigate the year ahead.

Smyril Line Charters MV Lista

MV Lista, will commence operations on Monday, 27 January, on the route between Rotterdam, Tórshavn, and Þorlákshöfn.

MV Lista was built at Odense Staalskibsværft A/S in Denmark in 2011. The vessel is 193 meters long and 26 meters wide.

New Port Terminal and Headquarter

Today marked a significant milestone with the first groundbreaking at Molin in Tórshavn, where Smyril Line and Tórshavn Municipality, together with the Port of Tórshavn, will build a new port terminal and headquarters for P/F Smyril Line.

This joint project, set to be a state-of-the-art facility at Molin in Tórshavn, will be 8054 square meters in size and includes a passenger terminal with a gangway and check in, expanded warehouse, and office spaces for Smyril Line as well as facilities for customs.

Articon, Henning Larsen Architects, LBF Consulting Engineers, PBC, and Verk.fo are jointly responsible for the project, which is expected to be completed in the summer of 2026.

An Agreement for a New Terminal

Smyril Line and Articon have made an agreement to build a terminal. The new terminal will also include a warehouse and offices. The building will be situated on the harbor in Tórshavn.

Smyril Line needs larger storage and office facilities, and Tórshavnar Havn (Port of Tórshavn) requires a better and larger terminal than the old one. Therefore, a collaboration agreement has been made.

With this project, Smyril Line and Tórshavnar Havn aim to secure their future operations and provide better services.

The new terminal, including storage and office spaces, will cover a total area of 7,389 square metres. The project also includes a customs building, a gangway, and check-in areas, bringing the total area to 8,054 square metres.

The work is expected to be completed in the summer of 2026.

The advisors on the project are: Henning Larsen Architects, LBF Consulting Engineers, PBC, and Verk.fo.

Changes Ahead for Norröna’s Sailing Schedule

For many years, Norröna has sailed from the Faroe Islands on Thursday evening and from Hirtshals on Saturday afternoon, but in November 2024, the sailing schedule will change.

From 8 November 2024, the winter sailing schedule will be as follows:

• Departure from Tórshavn on Friday evening at 20:00.
• Arrival in Hirtshals on Sunday at 11:00, followed by departure from Hirtshals at 15:00.
• Arrival back in Tórshavn on Tuesday morning at 7:30.

From the end of November to mid-March, there is no sailing to Iceland, but when Norröna resumes its sailings to Iceland in March, the departure from Tórshavn to Iceland will be on Tuesday, and from Seyðisfjörður to the Faroe Islands on Thursday evening.

In June, the summer sailing schedule will commence, remaining the same as in previous years. Norröna will continue to sail twice a week between Denmark and the Faroe Islands and once a week to Iceland during the summer period.

Smyril Line’s 2023 Year in Review

Smyril Line had its annual general meeting at Hotel Hafnia today. At the meeting, the annual report for 2023 was presented. EBITDA for 2023 was 267 million DKK, compared with 201 million DKK in 2022. The profit after tax was 122 million DKK, compared with 77 million DKK in 2022. This is therefore a record year for the company. Smyril Line is paying a 10 million DKK dividend for 2023.

The number of employees at the Smyril Line group was 595 in 2023. This was about the same as the previous year. The cargo operations were generally successful, and on the passenger side, there was a reasonable increase in demand for Iceland, while the demand for the Faroe Islands decreased slightly in 2023 compared to 2022.

The largest investment by Smyril Line in 2023 was the cargo ship Glyvursnes, which joined the company in December. Glyvursnes sails the route between Tórshavn, Þórlakshöfn, and Hirtshals. With the purchase of Glyvursnes, Smyril Line can service the entire route network with its own fleet.

The outlook for 2024 is reasonably good. We expect steady development both within travel and cargo operations. This assessment is based on the current trend and outlook, but factors such as rising fuel prices, duties, interest rate hikes, inflation, and the political situation can change the conditions.

It is of great importance that Smyril Line continuously renews and future-proofs its fleet. We are pleased that in January this year, we made a contract to build two new cargo ships, which will join the fleet in 2026. Thus, the renewal of the fleet has begun. This means that we can also in the future provide our customers with good service and lead the company towards a greener energy solution.

Board: The board consists of Tummas Justinussen, Arne Joensen, Helga á Borg, and Jens Meinhard Rasmussen.

If you have questions, you are welcome to contact Jens Meinhard Rasmussen, CEO, on tel. no. 794910.

Smyril Line Signed Contracts for Two RoRo Cargo Ships

Smyril Line has signed contracts for two modern and environmentally friendly RoRo cargo ships. In this major investment, Smyril line continues to lead in sustainable shipping practices.

Smyril Line is pleased to announce that a contract has been made with the CIMC Raffles shipyard in China to build two new cargo ships for the company. These are two identical RoRo ships, measuring 190 meters in length and having 3,300 lane meters for trailers. The new cargo ships will join Smyril Line’s current network, and they are planned to start sailing in 2026. The ships are designed for optimal year-round seaworthiness in the North Atlantic with great emphasize on our crew comforts and wellbeing on board. Undoubtedly, this is another milestone for the Smyril line fleet development.

The ships are being designed in close cooperation with Knud E. Hansen, naval architects, who, together with the extensive experience of Smyril Line in the North Atlantic, will ensure that the ships are built for the special route between Europe, the Faroe Islands, and Iceland. The ships will be modern and environmentally friendly, meeting all international emission standards. Compared to the company’s existing fleet, they will emit significantly less per transported ton. At the same time, the ships will be equipped with a battery system and the possibility for shore power, which means that port operations can be conducted without emissions. The ships will also be prepared to sail on e-methanol, which is considered to be the best future choice for green energy at Smyril Line. Notably, environmental innovation is a key focus at the line.

“Now is the time to set ourselves new and bigger goals towards reducing emissions in the North Atlantic,” says Jens Meinhard Rasmussen, CEO of Smyril Line. “The company’s main goal is to ensure safe and reliable transportation of both passengers and cargo, and to connect the periphery of the North Atlantic with the rest of the world. With the new ships, we emphasize futureproofing and leading the company towards a greener energy solution and lead the way for Smyril Line towards the goals for decarbonization in our fleet renewal, supporting the green transition of the shipping industry.

We will also transport much larger quantities of cargo with less energy consumption than we do now. The energy saving will be at least 60%. This is an important step for us to achieve our goals towards net-zero emissions by 2050, while we can offer our customers an even better service. Smyril line has been operating routes in the North Atlantic since 1982. This is not just one of the world’s longest ro-ro and ro-pax routes, but probably also the one with the most challenging sailing conditions. We know from experience that sailing on our route places great demands on both ship and crew, and we have therefore designed the ships with this in mind.”

Kind regards

Jens Meinhard Rasmussen, CEO Contact: +298 794910, jmr@smyrilline.fo